The NIFTY had a great dramatic fall today when it lose more then 230 points- almost 2% of its value in just one trading day. The scene was set up for bears from early morning. Geo – political risks arising out of a dispute between the U.S. And IRAN were affecting all markets. Crude jumped up more then 3% . A rise in crude is directly bearish for India.
The NIFTY has broken down from a significant support level around 12120. The index has actually close the below 12000, giving a clear signal that the breakdown is not just a minor dip but something more significant.
The start of a correction: today’s decline start a new correction to the onging uptrend. Support comes in around 11850. Eventually, traders will look to buy this dip. But the time has not come for a buying opportunity.
For short-term traders: we really feel a relief rally may come any time, but the rally is likely to face resistance at different levels. Traders may wish to buy following the 15 minute rule, buying above the high of the first 15 minute with a tight stop.
|DIVISLAB||1838.35||BUY||The stock has given the breakout with volume on the intraday as well as on the daily chart. The stock can be bought at CMP with a stop loss of 1817 and for the target of 1860-1885.|
|MOTHERSUMI||141.05||SELL||The immediate trend of the stock is weak . The stock can be sell with a stop loss of 145 and for the target of 135.|
|STOCK OPTION||Strike Price||Buy/Sell||CMP||Initiation||Stop Loss||Target||Remarks|
|MANAPPURAM||172.50 PE||BUY||6||CMP||4||11||OI Increase|
|Long Buildup||Short Buildup|
|Stocks||Price||Price%||OI %||OI||Stocks||Price||Price%||OI %||OI|
|MINDTREE.Jan 30||823.05||1.39||15.74||1505600||HINDPETRO.Jan 30||244.95||-7.04||24.02||22661100|
|NIITTECH.Jan 30||1650.05||1.07||14.22||695625||BANKNIFTY.Jan 30||31350||-2.52||18.72||1483020|
|WIPRO.Jan 30||252.5||0.46||6.51||19635200||CANBK.Jan 30||207.05||-6.92||18.08||15964000|
|TCS.Jan 30||2208.2||0.3||2.13||16753250||NIFTY.Jan 30||12040||-1.77||14.53||13606650|
|GODREJCP.Jan 30||700||1.41||1.86||4508800||BANKBARODA.Jan 30||95.95||-5.33||11.86||82155600|
|Short Covering||Long unwinding|
|TITAN.Jan 30||1163.65||1.56||-2.64||11272500||TORNTPHARM.Jan 30||1890||-0.96||-14.17||254500|
Top Delivery Percentage
|Stocks||Price||%Chg||Total Qty||Delivery||Del %||% Change|
|Hindustan Unilever Ltd||1915.45||-0.62||683129||1117706||69.91||INDIA VIX||14.78||16.36||84819|
|ITC Ltd.||235.1||-1.43||7636617||6344169||68.33||Nifty IT||15879.8||-0.36||84819|
|NTPC Limited||118.9||-0.38||6596841||4745388||64.19||Nifty FMCG||29799.3||-1.03||84819|
|HDFC Ltd.||2384.1||-2.87||2656731||1260684||64.19||Nifty Pharma||7987.35||-1.54||84819|
|HDFC BANK LTD.||1240.95||-2.16||5445093||3459267||63.73||Nifty 50||11993.05||-1.91||84819|
|Power Grid Corporation o||193.1||0.05||4137352||2581533||62.37||Nifty Auto||7978.75||-2.32||84819|
|BALKRISHNA IND. LTD||964.35||-0.76||692545||248048||60.36||Nifty Realty||292.4||-2.42||84822|
|Godrej Cons Products Ltd||697.4||1.23||1650497||505519||57.09||Nifty Media||1717.35||-2.45||84819|
|UNITED SPIRITS LIMITED||568.4||-2.51||1065809||660846||56.01||Nifty Bank||31237.15||-2.59||84819|
|Dabur India Ltd.||448||-1.67||1415568||769172||55.89||Nifty Metal||2765.75||-2.9||84819|
Upcoming Economic Data
|•INR: Industrial Production on (YoY) (Nov) on 10th January 2020
•INR: Manufacturing Output (MoM) (Nov) on 10th January 2020
|•USA: ISM Non- Manufacturing PMI (Dec) on 7th January 2020
•USA: Crude Oil Inventories on 8th January 2020
|•Future Retail Ltd has entered into long-term business agreements with Amazon India to expand the reach of its retail stores and consumer brands through the global e-commerce platform. FRL and Amazon India signed two agreements focusing on key categories – grocery and general merchandise, and fashion and footwear.
•The National Company Law Appellate Tribunal on Monday dismissed the petition filed by the Registrar of Companies and refused to modify its order passed in the Tata-Mistry case. In its plea, RoC—under the corporate affairs ministry—had sought to be impleaded as a party in the two petitions and deletion of words “illegal” and “with the help of the RoC” used by the NCLAT in its 172-page Tata-Mistry order.
•Karur Vysya Bank Ltd on Monday said its Managing Director & CEO P R Seshadri has submitted his resignation citing personal reasons. Board of Directors of the Bank in their meeting held Monday has accepted the resignation of P R Seshadri.
•Shares of Force Motors rallied more than 11 percent intraday on January 6 after a sharp rise in December sales. The company sold 2,517 vehicles in December 2019, which was a sharp 48.3 percent increase over 1,697 vehicles sold in the same month last year in the domestic market.
Source: Economic Times, Moneycontrol ,Business Today, Bloomberg Quint,,,
|Company Name||Purpose||Ex-Date||Company Name||Purpose||Ex-Date|
|BETALA||Quarterly Results||07-Jan-20||INDSILHYD||Dividend on Preference Shares||08-Jan-20|
|FINKURVE||Preferential Issue of shares||07-Jan-20||NETWORK||Quarterly Results||08-Jan-20|
|GMBREW||Quarterly Results||07-Jan-20||BRIJLEAS||Quarterly Results||09-Jan-20|
|MDRNTHR-B||Quarterly Results||07-Jan-20||EMAMIPAP||Quarterly Results||09-Jan-20|
|MODISNME||General||07-Jan-20||EMERALL||Preferential Issue of shares||09-Jan-20|
|Company Name||Ex-Date||Purpose||Company Name||Ex-Date||Purpose|
|RITES||09-Jan-20||Interim Dividend – Rs. – 6.0000||INFRATRUST||14-Jan-20||Income Distribution (InvIT)|
|SWADPOL||09-Jan-20||Stock Split From Rs.10/- to Rs.1/-||SIS||15-Jan-20||Stock Split From Rs.10/- to Rs.5/-|
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Elite Wealth Advisors Limited does/does not do business with companies covered in its research reports. Investors should be aware that the Elite Wealth Advisors Limited may/may not have a conflict of interest that could affect the objectivity of this report. Investors should consider this report as read more
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